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