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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
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