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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Deloitte Consulting - India
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