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