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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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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
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