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