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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
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Tuesday, 13 January 15
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The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
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