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