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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, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
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