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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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Monday, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
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- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- The University of Queensland
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Australian Coal Association
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
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