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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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Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
Wednesday, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
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- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
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