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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
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