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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, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- PTC India Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- The University of Queensland
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
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