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