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