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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Minerals Council of Australia
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- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
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