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