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