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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, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
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