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