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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
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