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