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