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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, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
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- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
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