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