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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
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