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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- The University of Queensland
- Marubeni Corporation - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
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