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