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