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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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Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
Thursday, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
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- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
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