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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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Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Planning Commission, India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
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