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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
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Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- The University of Queensland
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
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