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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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SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
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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
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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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- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
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