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