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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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Tuesday, 03 November 15
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DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
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Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
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A commodity swap ...
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THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
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- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
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- Cigading International Bulk Terminal - Indonesia
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- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- PTC India Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
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