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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
...
Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
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