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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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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- The University of Queensland
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
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