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