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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
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- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
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- Electricity Authority, New Zealand
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- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
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- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
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- Medco Energi Mining Internasional
- CNBM International Corporation - China
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- Romanian Commodities Exchange
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- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
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- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
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- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
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- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
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- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
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- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
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- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
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- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
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