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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, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- The University of Queensland
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- White Energy Company Limited
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
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