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