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