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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, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
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