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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, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
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- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- India Bulls Power Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Australian Coal Association
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
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