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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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
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Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Planning Commission, India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
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