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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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
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