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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
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