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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- The University of Queensland
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
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