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