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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Minerals Council of Australia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
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