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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, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
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