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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
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