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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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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
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