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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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Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Australian Coal Association
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Planning Commission, India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- The University of Queensland
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
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