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