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