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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, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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