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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- PTC India Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Minerals Council of Australia
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- Leighton Contractors Pty Ltd - Australia
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- Tamil Nadu electricity Board
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- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
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- Coal and Oil Company - UAE
- Economic Council, Georgia
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- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
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- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- White Energy Company Limited
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
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