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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- The University of Queensland
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
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