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