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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, 13 July 15
THE DRY BULK MARKET CLOSED ON A POSITIVE TONE THIS PAST WEEK
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KNOWLEDGE TO ELEVATE
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Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
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Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
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- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
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- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
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