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