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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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- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- PTC India Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
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