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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Bhatia International Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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