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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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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
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