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