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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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Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- White Energy Company Limited
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
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