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