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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
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