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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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Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Australian Coal Association
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Planning Commission, India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
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