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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, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
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Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
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