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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
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