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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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Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- The University of Queensland
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
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