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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Central Electricity Authority - India
- PTC India Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Australian Coal Association
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
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