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