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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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Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
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