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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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Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Australian Coal Association
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
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