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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, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
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It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
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- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
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