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