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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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Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
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Friday, 14 November 14
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Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
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Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
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- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- The University of Queensland
- GMR Energy Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
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