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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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Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
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- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
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