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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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Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
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- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
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