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