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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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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
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