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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, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
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