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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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- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Minerals Council of Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
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