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