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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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Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
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