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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
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