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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, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Videocon Industries ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
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- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
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- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
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