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