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