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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, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
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- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
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