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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, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
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