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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, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
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- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
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