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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
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