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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, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
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- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
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