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