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