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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, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
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- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- The University of Queensland
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
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