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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- White Energy Company Limited
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- MS Steel International - UAE
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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