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