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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Australian Coal Association
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
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