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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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Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
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