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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, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
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