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