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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, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
Wednesday, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
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- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
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