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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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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Australian Coal Association
- Planning Commission, India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
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