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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
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