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