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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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Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
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- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
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