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