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