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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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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Planning Commission, India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
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