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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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Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
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