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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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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
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