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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
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