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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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Thursday, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
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- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
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- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
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- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
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