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