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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, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
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- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
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- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
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- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
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- Commonwealth Bank - Australia
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- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
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- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
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- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
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- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
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