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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Economic Council, Georgia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- VISA Power Limited - India
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