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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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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- Bhatia International Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
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