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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
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Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
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- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
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- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
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- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
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- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
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- Singapore Mercantile Exchange
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- International Coal Ventures Pvt Ltd - India
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- SN Aboitiz Power Inc, Philippines
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- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
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- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Planning Commission, India
- ASAPP Information Group - India
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