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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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Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
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