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