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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- The University of Queensland
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
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