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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
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