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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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- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- White Energy Company Limited
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- The University of Queensland
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
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