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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Australian Coal Association
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
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