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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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Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
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- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Parliament of New Zealand
- ASAPP Information Group - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
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