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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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Tuesday, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
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