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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, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- Edison Trading Spa - Italy
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- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
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- Bhatia International Limited - India
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- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
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- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
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- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
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- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
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- Standard Chartered Bank - UAE
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- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
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- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
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- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
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- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
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- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- The University of Queensland
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- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
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- Orica Mining Services - Indonesia
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- Jindal Steel & Power Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
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- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
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