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