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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, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
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