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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, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
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