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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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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- White Energy Company Limited
- GMR Energy Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Australian Coal Association
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
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