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