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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
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