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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
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- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
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- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
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