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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
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