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