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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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Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Parliament of New Zealand
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
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