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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- White Energy Company Limited
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- The University of Queensland
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
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