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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, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
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- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Australian Coal Association
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
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