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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Economic Council, Georgia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
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