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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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Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Australian Coal Association
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
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