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