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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
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