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