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