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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
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Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
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