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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, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
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- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- The University of Queensland
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
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