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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- The State Trading Corporation of India Ltd
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- Planning Commission, India
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- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
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- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
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- Ceylon Electricity Board - Sri Lanka
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- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
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- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
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- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
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- Tamil Nadu electricity Board
- PTC India Limited - India
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- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
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- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- The University of Queensland
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
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