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