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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
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- Star Paper Mills Limited - India
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- Central Electricity Authority - India
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- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
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- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
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- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
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- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
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- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
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- Indian Energy Exchange, India
- Commonwealth Bank - Australia
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- Wilmar Investment Holdings
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- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
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- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
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- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
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- Australian Coal Association
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- Antam Resourcindo - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
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- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
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- Bhoruka Overseas - Indonesia
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- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
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