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