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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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- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- White Energy Company Limited
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
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