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