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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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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
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