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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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Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
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The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
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- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
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