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