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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
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Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
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- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
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- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
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- TeaM Sual Corporation - Philippines
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- Essar Steel Hazira Ltd - India
- The University of Queensland
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- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
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- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
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- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
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