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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, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Edison Trading Spa - Italy
- Planning Commission, India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
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