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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, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
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- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
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