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