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