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