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