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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, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- White Energy Company Limited
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
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- Thiess Contractors Indonesia
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- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Economic Council, Georgia
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- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
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- Aditya Birla Group - India
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- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
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- Interocean Group of Companies - India
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- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
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- Independent Power Producers Association of India
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- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
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- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
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- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
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- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
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- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
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