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