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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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