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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, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
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- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
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- Petron Corporation, Philippines
- Planning Commission, India
- ICICI Bank Limited - India
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- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
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- India Bulls Power Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
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- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
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- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
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- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
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