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