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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, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Australian Coal Association
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
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