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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Australian Coal Association
- Latin American Coal - Colombia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
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