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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
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- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
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- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
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- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
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- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
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- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
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- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
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- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
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- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Indian Oil Corporation Limited
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- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
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- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
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- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
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