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