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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
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