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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, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
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