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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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Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
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Friday, 27 May 16
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Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Baramulti Group, Indonesia
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