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