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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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Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
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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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- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- MS Steel International - UAE
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- White Energy Company Limited
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
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