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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Minerals Council of Australia
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- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
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- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Aditya Birla Group - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
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- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
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- Semirara Mining Corp, Philippines
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