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