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