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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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Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
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