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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, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
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Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
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- Minerals Council of Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
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