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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, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
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