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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
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- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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