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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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Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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Wednesday, 12 February 14
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Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
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Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
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- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
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- Mjunction Services Limited - India
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- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
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- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
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- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
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- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
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- Energy Link Ltd, New Zealand
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- ASAPP Information Group - India
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- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
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- Ministry of Finance - Indonesia
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- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
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- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- PTC India Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
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