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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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Thursday, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
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- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Planning Commission, India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
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