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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, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- PTC India Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- MS Steel International - UAE
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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