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