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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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- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
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