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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- The University of Queensland
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
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