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