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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, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
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