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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Petron Corporation, Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Economic Council, Georgia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
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