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