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