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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, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
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