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