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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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Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
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