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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
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