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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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Sunday, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
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- PowerSource Philippines DevCo
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- Minerals Council of Australia
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- Ambuja Cements Ltd - India
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- Planning Commission, India
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- Ministry of Transport, Egypt
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- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
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- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
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- Economic Council, Georgia
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- Latin American Coal - Colombia
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- Uttam Galva Steels Limited - India
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- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
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- Bhushan Steel Limited - India
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- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
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- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- The University of Queensland
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
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- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
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