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