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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, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
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- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
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- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
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- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
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