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