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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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Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
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- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
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