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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
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
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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- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
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