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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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Friday, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
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- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Australian Coal Association
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
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