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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, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
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