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