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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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Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Planning Commission, India
- Parliament of New Zealand
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Australian Coal Association
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
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