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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, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Australian Coal Association
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
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