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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, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Planning Commission, India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
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