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