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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, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
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