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