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