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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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Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
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Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
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