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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, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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Wednesday, 12 February 14
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Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
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Tuesday, 11 February 14
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COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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- South Luzon Thermal Energy Corporation
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
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