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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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Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
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- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- The University of Queensland
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
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