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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, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
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