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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- CNBM International Corporation - China
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- The University of Queensland
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
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