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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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Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
Friday, 18 July 14
3RD CHINA INTERNATIONAL SHALE GAS SUMMIT
Building on the massive success of the past 2 shale gas programs that has generated huge success by attracting 500+ industry players, and intrig ...
Friday, 18 July 14
US WEEKLY COAL PRODUCTION UP BY 1.4% TO 18.3 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 17 July 14
PANAMAX : MARKET HAS COOLED DOWN AGAIN TO LOW AND DEPRESSED LEVELS
Handy
The supra market remains pretty flat in the Atlantic while for the smaller sizes there has been little reported with ships chasing business ...
Thursday, 17 July 14
INDIAN GOVERNMENT WISE TO TAKE ADVANTAGE OF CURRENTLY LOW THERMAL COAL PRICES AND SHIPPING RATES - JEFFREY LANDSBERG
With thermal coal import prices (and also shipping rates) very low at present, India's government would be very wise to take advantage of curre ...
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- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
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