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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
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- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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