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