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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
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- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
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- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
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- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
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