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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
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