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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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- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
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