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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
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- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Thiess Contractors Indonesia
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- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
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- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
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- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
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