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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
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