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