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