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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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Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
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