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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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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
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