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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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Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- The University of Queensland
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
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