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