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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
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- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
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- Altura Mining Limited, Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
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- Standard Chartered Bank - UAE
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- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
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- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
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- Jaiprakash Power Ventures ltd
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- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
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- Metalloyd Limited - United Kingdom
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- Semirara Mining and Power Corporation, Philippines
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- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
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- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
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- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Planning Commission, India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
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