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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, 13 July 17
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Supramax
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THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
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SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
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Showing 2006 to 2010 news of total 6871 |
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- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- The University of Queensland
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
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