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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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Wednesday, 03 December 14
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CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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Tuesday, 02 December 14
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Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
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- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
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