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