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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, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
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