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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, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
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Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Economic Council, Georgia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
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