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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, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
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