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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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Friday, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
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