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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
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