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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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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Australian Coal Association
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
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