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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, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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- Eastern Coal Council - USA
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
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