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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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Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- MS Steel International - UAE
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
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