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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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Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
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