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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Minerals Council of Australia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Australian Coal Association
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
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