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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Indika Energy - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
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