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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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Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- The University of Queensland
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
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