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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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- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
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