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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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Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
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- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Australian Coal Association
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- The University of Queensland
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
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