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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, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
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