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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, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Grasim Industreis Ltd - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Australian Coal Association
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
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