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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- CNBM International Corporation - China
- Planning Commission, India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- The University of Queensland
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
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