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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, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
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- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
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