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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, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
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- Bulk Trading Sa - Switzerland
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- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
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- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
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- Renaissance Capital - South Africa
- Aditya Birla Group - India
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- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
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- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Tamil Nadu electricity Board
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- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
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- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- The University of Queensland
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- Thai Mozambique Logistica
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