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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, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
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- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Australian Coal Association
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
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