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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, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
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- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Australian Coal Association
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
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