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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
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