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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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Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
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- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- The University of Queensland
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
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- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
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- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- The Treasury - Australian Government
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
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