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