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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
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