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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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- Riau Bara Harum - Indonesia
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- Ceylon Electricity Board - Sri Lanka
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- Price Waterhouse Coopers - Russia
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- Independent Power Producers Association of India
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- Bahari Cakrawala Sebuku - Indonesia
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- The Treasury - Australian Government
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- Samtan Co., Ltd - South Korea
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- Agrawal Coal Company - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
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- Bangladesh Power Developement Board
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- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
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- Minerals Council of Australia
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- SMC Global Power, Philippines
- McConnell Dowell - Australia
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- White Energy Company Limited
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
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- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
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- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
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- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
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- Coal and Oil Company - UAE
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- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
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- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
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- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
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