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