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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, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- The University of Queensland
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
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