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