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