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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, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
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Wednesday, 18 June 14
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Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
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Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Planning Commission, India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
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