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