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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
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