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