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