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