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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
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Saturday, 14 February 15
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KNOWLEDGE TO ELEVATE
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Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
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Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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