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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, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
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- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- The University of Queensland
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
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