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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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Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
Monday, 29 October 12
US COAL EXPORTS ARE EXPECTED TO REACH 125 MILLION TONS THIS YEAR - EIA
COALspot.com - US coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, sa ...
Sunday, 28 October 12
SUB-BIT INDONESIA COAL SWAPS (FOB ) FOR DECEMBER 2012 DELIVERY STAYED FLAT D-D
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery flat on D-D but gained 0.38 percent on W-W on Friday, 26 October 2012, ...
Sunday, 28 October 12
INDONESIA TO INDIA SUPRAMAX FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - The Cape size sector continued to remain active with iron ore movement being steady. All other sectors were down.
The BDI was up b ...
Friday, 26 October 12
SHIPPING MARKETS HEADING FOR DIVISION AND MULTI-TIER WILL BECOME THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It seems that something is expected to be fundamentally different in the way that the shipping markets will be operating in the future, according to ...
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- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
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