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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- The University of Queensland
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
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