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