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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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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Planning Commission, India
- Economic Council, Georgia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
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