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