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