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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- The University of Queensland
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
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