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