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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, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
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- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
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