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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, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
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