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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
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- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
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- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
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- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
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- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
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