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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, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Planning Commission, India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
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