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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
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Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
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Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
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