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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
...
Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- The University of Queensland
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
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