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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Planning Commission, India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
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