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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, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
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