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