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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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Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Central Electricity Authority - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- MS Steel International - UAE
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- White Energy Company Limited
- Interocean Group of Companies - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
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