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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
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Tuesday, 31 January 12
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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.
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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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- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
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