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