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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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Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Rio Tinto Coal - Australia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
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