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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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Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
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- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Minerals Council of Australia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Aditya Birla Group - India
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