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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
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