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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, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Planning Commission, India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
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