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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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Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
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- Ministry of Mines - Canada
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- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
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- Wilmar Investment Holdings
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- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
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- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
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- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
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