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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
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