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