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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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- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
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- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
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- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
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- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
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