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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, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Planning Commission, India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- GMR Energy Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
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