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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, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
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- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
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- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- The University of Queensland
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
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