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