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