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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, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Planning Commission, India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- PTC India Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
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