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