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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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Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
...
Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
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