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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- White Energy Company Limited
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
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