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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, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
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- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Australian Coal Association
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
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