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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- White Energy Company Limited
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
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