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