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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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Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
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