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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 13 September 13
DIRECTOR GENERAL OF MINERAL AND COAL OF INDONESIA REVISED UP COAL PRICE REFERENCE TO US$ 76.89
COALspot. com - The Indonesian government has revised up its owned coal bench mark price by US$ 0.19/ MT to US$ 76.89 for September 2013 deliveries ...
Thursday, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
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- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
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