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