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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
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