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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, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
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After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
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Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
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FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
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Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
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- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Parliament of New Zealand
- Anglo American - United Kingdom
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
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