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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, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
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Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
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- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Minerals Council of Australia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
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