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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, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
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- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
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