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