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