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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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Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Planning Commission, India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
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