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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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Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
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- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
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