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