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