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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
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