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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, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
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- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
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- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
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- The State Trading Corporation of India Ltd
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- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
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- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
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- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
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