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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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Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
...
Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- Minerals Council of Australia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- MS Steel International - UAE
- Ambuja Cements Ltd - India
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