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