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