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