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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, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Minerals Council of Australia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
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