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