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