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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
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