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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, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
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