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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
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