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