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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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Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Australian Coal Association
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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