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