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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, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- White Energy Company Limited
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
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