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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- MS Steel International - UAE
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Australian Coal Association
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
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