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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Parliament of New Zealand
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
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