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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, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
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