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