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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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Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
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