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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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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- The University of Queensland
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
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