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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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Monday, 14 December 15
CFR SOUTH CHINA COAL SWAP IS STILL SLIDING
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A commodity swap ...
Sunday, 13 December 15
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Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
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- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- White Energy Company Limited
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
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