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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, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
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