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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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Friday, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
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