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