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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, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Australian Coal Association
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
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