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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, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
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