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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
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