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