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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, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
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The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
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