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