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