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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, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Planning Commission, India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
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