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