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