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