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