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