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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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- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
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