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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, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
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