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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- The University of Queensland
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Parliament of New Zealand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Planning Commission, India
- Latin American Coal - Colombia
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