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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
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