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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
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KNOWLEDGE TO ELEVATE
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SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
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Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Minerals Council of Australia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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