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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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Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
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- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
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- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
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- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
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- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Australian Coal Association
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
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