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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
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