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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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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
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- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- PTC India Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Australian Coal Association
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- White Energy Company Limited
- Central Electricity Authority - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
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