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