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