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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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Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- VISA Power Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
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