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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
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