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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, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
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Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Orica Mining Services - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
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