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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
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- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Xindia Steels Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- The University of Queensland
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
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