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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, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
Monday, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
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- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
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- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
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- Sojitz Corporation - Japan
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- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Parliament of New Zealand
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- White Energy Company Limited
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- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
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