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