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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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- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
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