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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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- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
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- Ministry of Mines - Canada
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- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
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- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
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- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
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- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
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- Vijayanagar Sugar Pvt Ltd - India
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- Coal and Oil Company - UAE
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- Coastal Gujarat Power Limited - India
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- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
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- Ministry of Finance - Indonesia
- Parliament of New Zealand
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- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
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- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
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- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
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