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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, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Australian Coal Association
- India Bulls Power Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- The University of Queensland
- Aditya Birla Group - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
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