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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
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