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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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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Planning Commission, India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
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