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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
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