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