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