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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, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- The University of Queensland
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
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