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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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Bhushan Steel Limited - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
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