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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
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