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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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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
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- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
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