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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Australian Coal Association
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
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