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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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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
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