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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, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Deloitte Consulting - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- White Energy Company Limited
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Parliament of New Zealand
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