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