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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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- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
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