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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
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