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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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Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Planning Commission, India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
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