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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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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
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- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
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- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
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- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- PTC India Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
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- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
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- Aboitiz Power Corporation - Philippines
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