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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
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