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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, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
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- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
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