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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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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
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