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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
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