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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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Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
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CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
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Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
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