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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Planning Commission, India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
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