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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
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