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