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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, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- PTC India Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
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