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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
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Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
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The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
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The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
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