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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, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
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Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
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