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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, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
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- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
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