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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, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Australian Coal Association
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
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