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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
Tuesday, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
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- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
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