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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, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
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Tuesday, 24 May 16
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Monday, 23 May 16
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Monday, 23 May 16
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The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Minerals Council of Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- The University of Queensland
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
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