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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
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Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
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Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
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Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
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