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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, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
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The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
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