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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
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Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
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- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
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- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
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- Grasim Industreis Ltd - India
- VISA Power Limited - India
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- San Jose City I Power Corp, Philippines
- PTC India Limited - India
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- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
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- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
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- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
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- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
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- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
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