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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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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
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