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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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