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