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