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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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Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
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- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
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- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
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- Bhushan Steel Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
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- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
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- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
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- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
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- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
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- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
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