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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- White Energy Company Limited
- PTC India Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
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