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