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