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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
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