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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
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