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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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Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
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Friday, 24 April 15
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Friday, 24 April 15
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Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
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Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
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- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- GMR Energy Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
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