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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
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