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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
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