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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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