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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Planning Commission, India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
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