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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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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
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- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Cement Manufacturers Association - India
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