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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, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
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- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
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- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- McConnell Dowell - Australia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
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