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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, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
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