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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
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