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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- MS Steel International - UAE
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