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