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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Central Electricity Authority - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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