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