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