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