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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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- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- PTC India Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
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