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