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