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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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Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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