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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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
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