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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
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Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
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Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
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Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
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Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
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