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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
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