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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, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- MS Steel International - UAE
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