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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
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- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
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- McConnell Dowell - Australia
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- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Australian Coal Association
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- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- White Energy Company Limited
- The University of Queensland
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
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