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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, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
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Monday, 09 June 14
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Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
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Saturday, 07 June 14
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FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
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- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Cement Manufacturers Association - India
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- Orica Mining Services - Indonesia
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- Latin American Coal - Colombia
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- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
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- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
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- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
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- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
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- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
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