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