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