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