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