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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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Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
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Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Aditya Birla Group - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
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