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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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Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
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