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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
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- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
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- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
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- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
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- Malabar Cements Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
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