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