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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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Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
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- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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