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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Minerals Council of Australia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
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