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