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