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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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Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- PTC India Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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