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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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Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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