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