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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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Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- White Energy Company Limited
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
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