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