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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, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
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- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- The University of Queensland
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
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