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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, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
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