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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
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Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
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Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- Coal and Oil Company - UAE
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- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
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- Semirara Mining Corp, Philippines
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- Ministry of Transport, Egypt
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- PNOC Exploration Corporation - Philippines
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- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
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- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- The University of Queensland
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- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
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- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
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- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
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- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
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