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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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Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
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