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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, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
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