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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, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- White Energy Company Limited
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
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