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