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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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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
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- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
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