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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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Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
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