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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Billiton Holdings Pty Ltd - Australia
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- Indian Energy Exchange, India
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- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
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- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
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- Mercuria Energy - Indonesia
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- Georgia Ports Authority, United States
- PTC India Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
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- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
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- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
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- Indonesian Coal Mining Association
- Mercator Lines Limited - India
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- Wood Mackenzie - Singapore
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- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
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- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
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- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
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- Bayan Resources Tbk. - Indonesia
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- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
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