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