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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
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