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