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