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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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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
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