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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
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- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
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- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
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- GAC Shipping (India) Pvt Ltd
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- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
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- Africa Commodities Group - South Africa
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- Indika Energy - Indonesia
- PTC India Limited - India
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- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
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- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
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- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Coal and Oil Company - UAE
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