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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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Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
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