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