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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
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- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
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- Parliament of New Zealand
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- Sree Jayajothi Cements Limited - India
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- SMC Global Power, Philippines
- MS Steel International - UAE
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- Bhoruka Overseas - Indonesia
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- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Trasteel International SA, Italy
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- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- The University of Queensland
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
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- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Planning Commission, India
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- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
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