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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 13 September 13
DIRECTOR GENERAL OF MINERAL AND COAL OF INDONESIA REVISED UP COAL PRICE REFERENCE TO US$ 76.89
COALspot. com - The Indonesian government has revised up its owned coal bench mark price by US$ 0.19/ MT to US$ 76.89 for September 2013 deliveries ...
Thursday, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
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- Energy Development Corp, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
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