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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, 09 December 14
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Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
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- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
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- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
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- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
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- Standard Chartered Bank - UAE
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- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
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