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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, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
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- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- VISA Power Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
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