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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
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- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Star Paper Mills Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
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