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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
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