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