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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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Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Australian Coal Association
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
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