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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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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- The University of Queensland
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Vizag Seaport Private Limited - India
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