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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Planning Commission, India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- The University of Queensland
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
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