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