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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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Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
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- Posco Energy - South Korea
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
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- The University of Queensland
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- Sindya Power Generating Company Private Ltd
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- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
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- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
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- ASAPP Information Group - India
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- Siam City Cement PLC, Thailand
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- Coal and Oil Company - UAE
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- Heidelberg Cement - Germany
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- Bhatia International Limited - India
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- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
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- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
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- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- The Treasury - Australian Government
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
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