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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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Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
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- The Treasury - Australian Government
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
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- Renaissance Capital - South Africa
- The University of Queensland
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- Kepco SPC Power Corporation, Philippines
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- Indian Energy Exchange, India
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- PNOC Exploration Corporation - Philippines
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- Electricity Authority, New Zealand
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- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
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- Savvy Resources Ltd - HongKong
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- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
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- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- PTC India Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
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