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