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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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Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
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- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Australian Coal Association
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Parliament of New Zealand
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
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