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